U.S. Sen. Tim Scott (R-SC), chairman of the Senate Committee on Banking, Housing, and Urban Affairs, laid out his legislative and oversight priorities for the 119th Congress.
As the first Black chair of a Senate standing committee, Scott said he will work to increase financial inclusion and advance opportunity for Americans across the country.
“My goal for this Congress is simple: make America work for Americans. Over the last two years, we’ve led comprehensive solutions to serious challenges Americans face – from addressing our failed federal housing policies to increasing access to capital to bolstering our economic national security – and we can build on this success. As we begin the 119th Congress, I look forward to working with the Trump administration, and my colleagues on the committee, to find consensus and advance solutions that improve financial inclusion and create opportunity across the country. The American people gave Congress a mandate – let’s get to work,” Scott said.
Scott’s priorities for the Banking Committee include:
• Promoting financial inclusivity and opportunity;
• Responsibly advancing affordable housing;
• Increasing access to capital;
• Developing a framework for digital assets;
• Protecting economic national security;
• Creating strong and resilient communities and insurance markets;
• Empowering local entities to facilitate infrastructure innovation; and
• Oversight.
Further, Scott said that all agencies within the committee’s jurisdiction will be open and transparent, follow the law, and advance policies that create economic opportunity. In addition, Scott will vet and confirm qualified nominees who respect the rule of law and support policies that promote growth. He will also use every tool at the committee’s disposal, including the Congressional Review Act, to overturn the “burdensome red tape regulations.”
Also, Scott will run the committee under regular order, giving reauthorizations, including the National Flood Insurance Program (NFIP), Export-Import Bank, and Defense Production Act, the consideration they deserve and allowing members to provide sufficient input throughout the legislative process.